There was a time when Tampa Bay was in the top five for foreclosure filings. Today, it no longer makes even the top 25. According to a report released by ATTOM Data Solutions (July20, 2017), the number of homes in foreclosure plunged 42 percent in the first six months of this year compared to the same period in 2016.
Selling a home, however, is not as easy as sticking a sign in your front lawn. Even in the best of times, the process can be complicated. The three stages of selling identified by realtors as causing the most emotional stress for sellers. They are:
- Home Inspection
As a seller, you need to hire a professional, experienced realtor who will not only be your advocate to negotiate sales price, but who has a track record of handling many parts of the sales transaction including inspections, appraisals and showings.
Be prepared to make repairs.
Hire a reputable certified home inspector who will discuss what you need to do to make your home saleable. Begin the repair/improvement process with the guidance of your broker who should be able to make recommendations as to what improvements are absolutely necessary and those that are add-ons, but not necessary to enhance your sale. Compile a list of any and all improvements you have done, including the dates and costs. This list will add to the cost basis and selling price of your home.
Key Word – Fair
The appraisal process can be stressful because the appraisal will ultimately affect the asking/listing and selling price of your home. Mortgagees will only give loans to new buyers for at least the amount of the appraisal price. Your goal as a seller is to get a fair market price (or above) for your property. Select a knowledgeable certified appraiser who is familiar with your neighborhood and area. Walk through your home with him and point out all improvements you have made to your home in the past 3-5 years – then let him do his job.
Showings = Decluttering
The stress of home showings can make you anxious because brokers often call with little notice asking if they can show your home to a prospective buyer. Keeping your home “show ready” can be challenging, but there are few things you can do to help you stay ahead and in control.
- Declutter your home prior to your first showing. Do a deep clean of every room in advance.
- Create a daily routine wherein you tidy things up every day just in case the broker calls.
- Get feedback after each showing from your broker. Find out what prospective buyers are saying about your home, changes they would like to see or just general constructive information about how you can make your home more “show ready”.
The Life-Changing Magic of Tidying Up: The Japanese Art of Decluttering and Organizing by Marie Kondō
The Complete Guide to Home Inspection, by Michael Litchfield and Roger C. Robinson
How a Home Appraisal Can Make or Break Your Mortgage: www.realtor.com